“I think retail is much more of a falling knife than office, and I think that office is likely to recover much quicker than retail,” real estate billionaire Sam Zell tells BeckyQuick.
"Everything between the top mall and the corner grocery anchor mall … [there's] a serious question as to its viability," Zell said in ainterview. "I think retail is much more of a falling knife than office, and I think that office is likely to recover much quicker than retail."
The Equity Group Investments founder expects the office market to rebound once Covid becomes "less of a risk," albeit with hybrid work becoming part of the norm. The speed of recovery will depend largely on thriving industries that hire more workers to come into the office, he added. "Ultimately the amount of time people spend in the office is gonna be very much related to the demand for their time.
"There's a disparity between office prices and office attractiveness. There's been relatively little change in pricing. We haven't had any kind of distressed scenario," Zell said, adding that dynamic could change as market interest rates tied to bond yields have climbed in recent weeks.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Why Sam Didn't Want Sidney's Help In ScreamSidney Prescott returns in Scream to offer help to new final girl Sam Carpenter, but Sam turns her down. Star Melissa Barrera explains why. WARNING! Spoilers ahead ➡️
Read more »
'Good Sam': Sophia Bush and Jason Isaacs Have a Little Disagreement.SophiaBush and jasonsfolly aren’t exactly seeing eye to eye in the forthcoming episode of GoodSamCBS. GoodSamCBS
Read more »
Sam Raimi Explains His ‘Spider-Man: No Way Home’ Feelings, Reveals Whether ‘Doctor Strange 2’ Is Finished FilmingSam Raimi, the director of Columbia Pictures’ original “Spider-Man” trilogy starring Tobey Maguire, has spoken out about watching his original cast reprise their roles in last yea…
Read more »
$19.5M Brooklyn penthouse in waterfront development hits market as borough's most expensive listingA $19.5 million penthouse is on Brooklyn’s real estate market as the borough's most expensive listing.
Read more »
What does Amazon’s physical fashion store mean for retail?Ecommerce pioneer Amazon is making another push in the physical retail space, a strategy shift that may have wide-ranging implications.
Read more »
Why Detroit Loves That Used-Car SmellHeard on the Street: Investors in used-car retail should watch out for auto makers’ move into this space, but should probably ease up on the panic button
Read more »